BYJU’S Riju Ravindran Asks NCLT To Eject US Lenders

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SUMMARY

The suspended BYJU’S director and promoter has alleged in his petition that the US-based lender group fraudulently represented itself to become a financial creditor in the insolvency proceedings

Cofounder Byju Raveendran has also alleged that the GLAS Trust, which is a consortium of the $1.2 Bn Term Loan B (TLB) lenders of the company, created a narrative to take control of BYJU’S

GLAS Trust won a conviction in the US after suing BYJU’S for allegedly moving funds from its US accounts to other companies in contravention of the…



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BYJU’S Riju Ravindran Asks NCLT To Eject US Lenders


SUMMARY

The suspended BYJU’S director and promoter has alleged in his petition that the US-based lender group fraudulently represented itself to become a financial creditor in the insolvency proceedings

Cofounder Byju Raveendran has also alleged that the GLAS Trust, which is a consortium of the $1.2 Bn Term Loan B (TLB) lenders of the company, created a narrative to take control of BYJU’S

GLAS Trust won a conviction in the US after suing BYJU’S for allegedly moving funds from its US accounts to other companies in contravention of the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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